Ryanair is famous for charging for everything and trying to fit as many people aboard its airplanes as possible.

So it's fitting that the Irish airliner Monday became the launch customer for Boeing's new 737 MAX 200, a 737 MAX 8 variant that bumps the seat count up by 11, to 200, lowering operating costs per seat by at least 5 percent. Ryanair ordered 100 MAX 200s, for a total contract value of $11 billion, at list prices (airlines generally get big discounts), with options to buy another 100 MAX 200s.

The new jets will expand Ryanair's fleet to 520 aircraft by 2024, create 3,000 new jobs for pilots, cabin crew and engineers in Europe, and allowing it to grow traffic from 82 million last year to over 150 million by 2024, Ryanair CEO Michael O'Leary said in a news release.

These new "gamechanger" aircraft will allow Ryanair to lower our costs and airfares, while improving our customer experience with more leg room and the Boeing Sky Interior, as we roll out new offers, particularly for our Business Plus and Family Extra customers. As many of Europe's flag carriers cut capacity on short haul routes, Ryanair looks forward to using these new Boeing 737 MAX 200s to grow at many more of Europe's primary airports.

Boeing previously announced the 737 MAX 7, 8 and 9, which will boost fuel efficiency of the single-aisle workhorse thanks to new engines and other improvements. The first MAX airplane is scheduled for delivery in 2017.

Boeing lists the typical one-class seat count for the 737 MAX 8 as 175, but the jet can fit up to 189. To enable the extra 11 seats on the 737 MAX 200, Boeing will add a middle emergency exit.

Boeing noted that the 737 MAX 200 is suited to the low-cost sector, which it expects to account for 35 percent of single-aisle airline capacity by 2033. That said, Boeing expects the heart of the single-aisle market to remain at 160 seats.

Boeing Commercial Airplanes President and CEO Ray Conner said: "The new variant will play a significant role in enabling (Ryanair) to continue to expand its operations, while providing passengers across Europe with outstanding value."

Stephen Levenson of Stifel Nicolaus said in a client note that since most of Ryanair's flights are less than 2.5 hours, the high density seating plan of the 737 MAX 200 is ideal for its operations.

The analyst also believes that any backlog growth concerns investors have for Boeing should be wiped away by the announcement of the Ryanair order. Levenson anticipates that even if Boeing's 2015 orders don't keep pace with the previous year, its outlook is still strong for earnings and cash flow growth in 2015, 2016 and the future.